Find Out What Drives Your Business

Posted on 12/05/2016

Byron: Hi, my name is Byron Hebert, and this is another Tool Time update brought to you by PKF Texas and The Entrepreneur’s Playbook.

What I want to talk to you about today is a business excellence model that was developed actually by the European Foundation for Quality Management back in the ’60s as a way to reward companies that were performing well. And what they found was that there are certain enablers in your business that help you perform well. One of them being leadership. The right people. The right strategy. Partners, and processes. And they actually weighted those in order of importance in order to process and leadership and people have a significant role in your ability that enables you to run your business effectively.

So then if you have these enablers in place, that drives your results, which are your people results, customer results, society results, good corporate citizenship, and your key performance indicators, as in your sales, profitability, cash flow and things like that.

So how you can use this model in your business is to rate yourself right now in terms of your enablers. If out of 100 how important is leadership, how well are you at leadership? How good is your company right now, or do you need to develop a leadership team or a leadership training? So maybe you’re an eighty there and you want to get to 100, you’ve got a twenty gap, and you start working on how you can effectively move the dial from eighty to 100 by training, or making an emphasis on rewarding those who show leadership. Things like that.

As far as your people, do you have the right people in the organization? On a scale of ninety, if it was ninety, where are you? Eighty-five is pretty good. Maybe you’re at a sixty, and you’ve got a thirty gap there that you need to fill and start getting some ideas of how you can get the right people in your organization.

So again, this is a business excellence model. The enablers are your leadership people, strategy, partnership and processes, and with that you’ll get the results that you can measure in your people, customers, society, and key performance indicators.

Again, my name is Byron Hebert. This has been a quick Tool Time update brought to you by PKF Texas and The Entrepreneur’s Playbook.

For those of you listening in on the radio and would like to see the graphic form of this tool being demonstrated, you can go to TheBusinessmakers.com and look for the videos under Entrepreneur’s Playbook.

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PKF Texas is the premier middle-market CPA firm in Houston assisting entrepreneurial minded businesses. We serve public, private and VC-backed domestic and international businesses with our resources through PKF International, Allinial Global and the Leading Edge Alliance.